Quest Diagnostics Incorporated (DGX) PT Lowered to $86.00 at Wells Fargo & Co
Quest Diagnostics Incorporated (NYSE:DGX) had its price target cut by stock analysts at Wells Fargo & Co from $88.00 to $86.00 in a research report issued on Friday. The brokerage currently has a “market perform” rating on the medical research company’s stock. Wells Fargo & Co’s price objective would indicate a potential downside of 9.55% from the stock’s current price.
Several other equities analysts also recently commented on the stock. Raymond James Financial, Inc. reissued a “market perform” rating on shares of Quest Diagnostics in a report on Monday, September 25th. Canaccord Genuity reissued a “buy” rating and issued a $118.00 target price on shares of Quest Diagnostics in a report on Wednesday, September 13th. ValuEngine raised shares of Quest Diagnostics from a “hold” rating to a “buy” rating in a report on Friday, September 1st. BidaskClub raised shares of Quest Diagnostics from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 29th. Finally, Barclays PLC reissued a “hold” rating and issued a $110.00 target price on shares of Quest Diagnostics in a report on Wednesday, July 19th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $106.83.
Quest Diagnostics (NYSE:DGX) traded up 1.98% during mid-day trading on Friday, hitting $95.08. 1,807,088 shares of the stock traded hands. Quest Diagnostics has a 12 month low of $79.12 and a 12 month high of $112.97. The company’s 50 day moving average is $98.11 and its 200 day moving average is $104.54. The company has a market cap of $12.97 billion, a P/E ratio of 19.16 and a beta of 0.65.
Quest Diagnostics (NYSE:DGX) last released its earnings results on Thursday, October 19th. The medical research company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.35 by $0.04. Quest Diagnostics had a net margin of 9.28% and a return on equity of 15.66%. The firm had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.92 billion. During the same quarter in the previous year, the firm earned $1.37 earnings per share. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. On average, analysts expect that Quest Diagnostics will post $5.63 earnings per share for the current fiscal year.
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In other news, Director Jeffrey M. Leiden sold 296 shares of the stock in a transaction on Friday, August 4th. The shares were sold at an average price of $106.66, for a total value of $31,571.36. Following the sale, the director now owns 6,000 shares of the company’s stock, valued at $639,960. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jeffrey M. Leiden sold 1,304 shares of the stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $108.73, for a total transaction of $141,783.92. Following the completion of the sale, the director now directly owns 6,296 shares in the company, valued at approximately $684,564.08. The disclosure for this sale can be found here. In the last three months, insiders sold 161,996 shares of company stock worth $17,517,207. Insiders own 1.75% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. WFG Advisors LP raised its stake in shares of Quest Diagnostics by 45.3% in the second quarter. WFG Advisors LP now owns 966 shares of the medical research company’s stock valued at $107,000 after acquiring an additional 301 shares during the period. Sun Life Financial INC raised its stake in shares of Quest Diagnostics by 14,142.9% in the second quarter. Sun Life Financial INC now owns 997 shares of the medical research company’s stock valued at $111,000 after acquiring an additional 990 shares during the period. Parallel Advisors LLC raised its stake in shares of Quest Diagnostics by 16.1% in the first quarter. Parallel Advisors LLC now owns 1,279 shares of the medical research company’s stock valued at $137,000 after acquiring an additional 177 shares during the period. Acrospire Investment Management LLC raised its stake in shares of Quest Diagnostics by 300.0% in the second quarter. Acrospire Investment Management LLC now owns 1,600 shares of the medical research company’s stock valued at $178,000 after acquiring an additional 1,200 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Quest Diagnostics in the second quarter valued at $180,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.
Quest Diagnostics Company Profile
Quest Diagnostics Incorporated is a provider of diagnostic information services. The Company operates through two businesses: Diagnostic Information Services and Diagnostic Solutions. The Diagnostic Information Services business develops and delivers diagnostic testing information and services, providing insights that empower and enable a range of customers, including patients, clinicians, hospitals, integrated delivery networks (IDNs), health plans, employers and accountable care organizations (ACOs).
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